According to a joint release from the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, the three proposals to revise and replace the current capital regulatory rules that were announced in June will not become effective on January 1, 2013, due to concerns from industry participants that they would not have “sufficient time to understand” the final regulatory capital rule or to “make necessary system changes.” The U.S. federal banking agencies said that while they “take seriously our internationally agreed timing commitments” as members of the Basel Committee on Banking Supervision, they must take “operational and other considerations into account” when determining appropriate dates for transition and implementation, the release said. For more, read the press release.